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On Thursday evening, amid swirling speculation regarding a shooting at Brown University, the network's Kaitlan Collins used social media, noting the confusion and pointing viewers to her channel's 9pm newscast.

Although it is by no means a perfect news source, her statement resonated for numerous observers. It is one of the broadcasters where you can find grounded and mostly trustworthy reporting – notably during fast-moving events like the one developing in the vicinity of a New Hampshire storage facility.

A Vulnerable State Amid a Business Struggle

Yet the news network, now four and a half decades old, finds itself in a vulnerable position as two huge media empires battle over ownership of its parent company, Warner Bros Discovery.

No matter the result, the future of CNN has turned into a high-risk game of business acquisition, rather than as a question of what benefits the news-consuming public.

“This is yet another example of the fundamental flaws with origins in many years of governmental choices,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.

The conjecture about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a broader point.

“The narrative is crafted as a business story with key players as the main characters, but there is hardly any discussion of the societal benefit,” Pickard explained.

A Further Factor: Donald Trump

This situation is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” antagonist.

Recall the shouts of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.

Trump now claims that the network requires new ownership. You can read that as ownership that will shield him from negative coverage and examination. That is one reason why he appears to favor Paramount Skydance, which has made a unsolicited offer.

Trump has reason to like that company more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.

The company, parent of CBS News, also recently placed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.

A Possibility of Continued Instability

It is important to note, if Netflix prevails, CNN and other cable outlets would first be separated into a standalone company. That would be a welcome development to many at the network, but it’s hardly a secure position. That structure could pave the way for CNN for a future sale. There is no finish line.

If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should prohibit both deals.

“Either merger would be detrimental to the country, and both should be contested by the government,” Wu stated.

The Core Challenge and a Way Ahead

No matter the outcome with this particular battle, the bigger problem remains.

“The present media landscape is a very system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to create this profit-obsessed monster, and revised policy decisions can tackle it.

Can reform occur in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Reform is very unlikely now, but that is not to say it will never happen.

Initiatives that support independent news organizations, aid local journalism, finance public media, and outlaw the accumulation of media power in too few hands are achievable – they are essential for a healthy democracy.

In the world of media ownership, size does not equal quality. And news organizations such as CNN shouldn’t be pieces in the latest corporate chess match.